🪙CoinAvatar Platform Functionality
The CoinAvatar platform offers a range of features and functionalities to its users, primarily centered around the creation of NFT molds and coins. On the platform, molds are treated as NFTs themselves and serve a similar purpose to special frames used for minting assets in real life. Without these molds, users cannot create their own NFT coins. Users are not limited in the creation of NFT molds and coins on the CoinAvatar platform, but they can only make one NFT coin from each NFT mold.
All attributes used on the CoinAvatar platform can be categorized into mold attributes and coin attributes. Users have the ability to "fuse" two different NFT molds, resulting in a new NFT mold with rare attributes. This new mold enables users to create more complex NFT coins, which provides bonuses during staking and increases the NFT’s value when you sell it on the marketplace.
CoinAvatar NFT coins can be used in various ways:
1. Create collections: Users can create collections of unique NFT coins and share them with the community and friends.
2. Earn rewards through staking: By locking cryptocurrency inside an NFT and using staking protocols, users can earn rewards.
3. Trade on a Marketplace: Users can sell their NFT coins and NFT molds on the marketplace at a higher price than the cryptocurrency locked within them.
4. Locked interest rate: NFT coins can be sold with a locked interest rate, providing additional value to potential buyers.
5. Liquid NFTs: You can freely use your NFT coin even while the cryptocurrency locked in it is being staked. There are no barriers on trading and selling your NFTs for other NFTs or its equivalent in cryptocurrency. Your liquid NFT coin can be used in various NFT DeFi Protocols to maximize yield.
6. Maximized Lending Power: We address the issue of unstable NFT floor prices by locking in a stable floor price within the NFT itself. This stability allows for up to 95% Loan-to-Value in NFT lending protocols, easy swapping to fungible tokens, and use as regular cryptocurrency.
Users can start yielding on the CoinAvatar platform by following these simple steps:
Create a Mold: Visit the CoinAvatar web app to create an initial NFT mold or explore the marketplace for pre-existing options.
Create and Lock Cryptocurrency in a Coin: Based on the created mold, users can create an NFT coin. To do this, they need to lock a portion of their cryptocurrency into the NFT coin, starting with as little as $1. The value should be at least 0.001 of the selected cryptocurrency. The more crypto users lock in, the higher their potential returns
Choose a Staking Option: Users can choose between two staking options:
CAV Staking - for CAV tokens staking;
Staking through popular DeFi protocols - for other supported cryptocurrencies;
Once these steps are completed, users can sit back and watch their portfolio grow as they receive staking rewards. If they wish, they can use their liquid NFT coin to stake it using some NFT DeFi protocols to maximize yield. This sequence of actions provides a clear path for users to understand the process and start yielding on the CoinAvatar platform.
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